Victory Capital Management Inc. Acquires 3,257 Shares of Core Scientific, Inc. (NASDAQ:CORZ)

Victory Capital Management Inc. lifted its holdings in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 12.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,890 shares of the company’s stock after purchasing an additional 3,257 shares during the period. Victory Capital Management Inc.’s holdings in Core Scientific were worth $420,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. First Horizon Advisors Inc. bought a new stake in shares of Core Scientific during the fourth quarter worth $34,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Core Scientific during the fourth quarter worth $42,000. US Bancorp DE bought a new stake in shares of Core Scientific during the fourth quarter worth $99,000. KBC Group NV bought a new stake in shares of Core Scientific during the fourth quarter worth $114,000. Finally, SBI Securities Co. Ltd. bought a new position in Core Scientific in the fourth quarter valued at about $124,000.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 129,861 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the sale, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jordan Levy purchased 62,500 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now owns 306,887 shares of the company’s stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 748,282 shares of company stock valued at $10,978,104 over the last 90 days. 32.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CORZ. Needham & Company LLC decreased their price target on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Compass Point decreased their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Keefe, Bruyette & Woods began coverage on Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price target on the stock. Craig Hallum began coverage on Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price target on the stock. Finally, BTIG Research raised their price target on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Core Scientific has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Price Performance

NASDAQ CORZ opened at $8.51 on Friday. The firm has a market cap of $2.50 billion, a P/E ratio of -1.57 and a beta of 6.83. The stock’s 50-day moving average is $11.50 and its 200-day moving average is $13.16. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. Equities analysts anticipate that Core Scientific, Inc. will post 0.52 EPS for the current year.

Core Scientific Profile

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.